MasterCard has signed a new 212,000 square foot lease with L&L Holding at 150 Fifth Avenue in the Flatiron District of Manhattan. The credit card company will use the entire property to consolidate and grow its New York City operations. Currently, MasterCard leases four floors and approximately 80,000 sqf of office space at 114 Fifth Avenue, also owned by L&L Holding. The company will relocate those employees to 150 Fifth Avenue and add additional employees, which will expand the headcount by close to double in Manhattan. MasterCard will be able to hang a branded flag outside the 11-story building which was built in 1888. A Cushman & Wakefield team of Vice Chairman Mitchell Barnett and Managing Director Andrew Ross, represented the tenant, MasterCard, in the transaction.
“This boutique office building is a perfect fit for MasterCard as the company continues to evolve from a payments company to a technology company,” said Mitchell Barnett. “The consolidation and growth of the company’s New York offices will allow them to streamline operations for a new generation of leaders and give MasterCard a competitive edge in the battle to attract and retain the best talent.”
